Exercise 254 (Part Level Submission) Presented below is information for Zhan Company for the month of January 2017. Cost of goods sold Freight-out $280,000 7,000 12,000 42,000 Rent expense Sales discounts Sales returns and allowances Sales revenue $35,000 8,000 13,000 421,000 Insurance expense Salaries and wages expense (a) Prepare a multiple-step income statement. ZHAN COMPANY Income Statement